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Cardano (ADA) Price Analysis for December 31

source-logo  u.today 31 December 2022 19:30, UTC
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The majority of the coins from the top 10 list have a chance to close in the red zone on the last day of 2022.

Top 10 coins by CoinMarketCap

ADA/USD

Cardano (ADA) has gained the most value today, rising by 2.11% over the last 24 hours.

<span class=ADA/USD chart by TradingView " src="https://cnews24.ru/uploads/33d/33dc94bc8670e2c83c454577bc5bd70ff4cc39ea.png" size="1818x886">

On the hourly chart, the price of Cardano (ADA) has broken the resistance at $0.2459 against the increased buying volume, which means that bulls want to seize the initiative.

Currently, one should pay attention to the $0.25 mark. If the bar closes near it, the growth could continue to the $0.2530 zone.

<span class=ADA/USD chart by TradingView " src="https://cnews24.ru/uploads/2a0/2a06bc4e98dc11308094a861f5b3058db47d3ca2.png" size="1818x886">

On the bigger chart, Cardano (ADA) is trying to break the resistance at $0.2478, which serves as the mirror level. If the candle closes above that mark with no long wicks, the bullish move could continue to the $0.2520-$0.2540 zone soon.

<span class=ADA/USD chart by TradingView " src="https://cnews24.ru/uploads/5a4/5a49de6c7b18683142599edd6a199159b4129288.png" size="1818x886">

On the weekly chart, traders should focus on the previous candle low at $0.2465. If the bar closes above it, one could see an ongoing correction to the nearest resistance zone at $0.2550. Such a scenario is relevant until mid-January.

ADA is trading at $0.2485 at press time.

u.today